#maui business covid-19

Mayor Victorino notes that some local businesses are not qualifying for small business grant programs because they exceed revenue thresholds currently in place. “We had to set thresholds because I wanted this money to go to our small local businesses, not to some big conglomerate someplace else… we’re committed to help our local businesses, our small mom and pops wherever possible.”

According to the report, 41% of Maui businesses surveyed said they anticipate more staff cuts and other reductions if tourism reopens on Oct. 1, 2020.  An estimated 24% of business in Maui County believed their business would not survive a reopening if it were delayed to October; while 18.5% said they already made reductions to survive a potential delay.  

The SBA Economic Injury Disaster Loan program became available this week to businesses that are being impacted by the COVID-19 coronavirus. These working capital loans of up to $2 million can be used to pay fixed debts, payroll and other bills that can’t be paid because of the disaster’s impact.